Singapore, Morgan Stanley Among Investors in ICICI's $2 Billion Placement
17 Agosto 2020 - 3:35AM
Dow Jones News
By P.R. Venkat
An investment arm of the Singapore government and Morgan Stanley
are among the investors that have subscribed to ICICI Bank's $2
billion share placement.
ICICI Bank Ltd. had placed a total of 418.99 million shares at
an issue price of 358 rupees ($4.78) each, a 1.9% premium to the
earlier decided floor price, the Indian bank said Sunday.
"The equity issuance witnessed healthy participation from the
global and domestic investor community, including foreign portfolio
investors, domestic mutual funds and insurance companies," ICICI
said.
Among the investors, the Singapore government was allotted 46.44
million shares or nearly 11.1% of the offer.
Morgan Stanley Investment Inc. was allotted 30.63 million shares
and Societe Generale took 23.25 million shares, ICICI said.
The proceeds of the issue will be used towards strengthening the
capital adequacy ratio of the bank, improving its competitive
positioning and to meet general corporate needs, it said.
Write to P.R. Venkat at venkat.pr@wsj.com
(END) Dow Jones Newswires
August 16, 2020 21:20 ET (01:20 GMT)
Copyright (c) 2020 Dow Jones & Company, Inc.
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